Renewed tensions between the United States and Russia have resurfaced following an incident involving an oil tanker, sparking market concerns about potential disruptions to global energy supplies. Washington's move, associated with tightening oversight and enforcement of sanctions on Russian oil shipments, is viewed by Moscow as provocative and could worsen relations between the two countries. Russia views these actions as an attempt by the United States to suppress Russian energy exports and strengthen its dominance in the global oil market. Meanwhile, Washington argues that these measures...
Gold (XAU/USD) sinks more than 3.0% at the start of the European trading session and heads towards $3,231 at the time of writing as after US and China have brought some low-hanging fruit for the equity markets. China has agreed to lower its tariffs on the United States (US) to 10% from the initial 125%, while the US will lower its tariffs on China to 30% from 145%, both for 90 days. The announcement caused a risk-on wave in markets, with investors fleeing from safe-haven assets such as Gold. US President Donald Trump on Friday already hinted at the possibility that the talks could be...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, exceeds a more than 1% rally on Monday after China and the United States (US) agreed to a 90-day pause in their trade war by slashing tariffs on both sides. After a weekend of discussion, US Treasury Secretary Scott Bessent announced the defusing of the trade war between the two nations: China will lower its tariffs on US goods to only 10% from the original 125%, while the US will do so to 30% (from 145%) on Chinese goods, both for 90 days, Bloomberg reports. The news sent the US...
Crude futures extend gains in afternoon trade after a U.S.-China deal eased concerns over a deepening trade war that has threatened global economic growth and oil demand. Brent climbs 3.8% to $66.35 a barrel, while WTI jumps 4.1% to $63.50 a barrel. After weekend talks in Geneva, the world's top consumers of crude agreed to temporarily slash punishing levies on each other while trade negotiations continue. However, "questions remain for markets as to what the end game will be, as the measure will be operational for 90 days, and what the eventual level of tariffs will be," ING analysts...
Gold dropped 3% to a more than one-week low on Monday after the U.S. and China said they have agreed to a deal to slash reciprocal tariffs, sending the dollar higher and denting the safe-haven metal's appeal. Spot gold was down 3% at $3,224.34 an ounce, as of 0812 GMT, its lowest since May 1. U.S. gold futures slipped 3.5% to $3,228.10. "The de-escalation of tensions between China and the U.S., with tariffs being reduced for 90 days, is reducing the demand for safe haven assets like gold," said UBS analyst Giovanni Staunovo. "Near-term prices are likely to stay volatile. But higher...
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, catches aggressive bids at the start of a new week and rallies to over a one-month top, around the 101.35-101.40 region during the early European session. The latest leg of a sudden spike over the past hour or so followed the highly anticipated US-China joint statement on the first round of trade talks held over the weekend in Geneva, Switzerland. The US will modify the application of the rate of duty on articles of China for an initial period of 90 days, and now only a 10% base rate will be applied....
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
European stock indices closed marginally lower on Wednesday as equities took a breather from their recent strong momentum, while investors continued to assess the outlook for the ECB's policy this...
The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next major tests for US stocks and bonds.
Equity markets...